EquityPandit’s Outlook for Wipro for the week  (Dec 18, 2017 – Dec 22, 2017) :

WIPRO:

Wipro closed the week on positive note gaining around 2.50%.

As we have mentioned last week, that resistance for the stock lies in the zone of 286 to 288 where trend-line resistance for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 292 to 294 where short and medium term moving averages are lying. During the week the stock manages to hit a high of 291 and close the week around the levels of 290.

Support for the stock lies in the zone of 278 to 280 where the stock has taken support in the month of September-2017. If the stock manages to close below these levels then the stock can drift to the levels of 272 to 274 where long term moving averages are lying.

Resistance for the stock lies in the zone of 292 to 294 where trend-line resistance for the stock and short and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 298 to 300 where break down levels are lying.

Broad range for the stock in the coming week is seen between 280 to 282 on downside & 300 to 302 on upside.